Most secure wallet of the world? Maybe not so much anymore. Ledger, the leading software and hardware developers for crypto wallets, has faced technical issues this week. The company stated that the issues triggered losses for its Ethereum Chrome app and caused disruptions across the ETH and ETC network.
According to the company, all financial losses will be repaid to customers, however, the company did not state anything else about the bug that caused the problem. The official report is that the issues were not a security breach but a bug.
Ledger believes that there is an issue on the Ledger Wallet Ethereum Chrome. It states that it was working on the issue and that users should use only Ledger Live and Ledger Mew for a while. The bug, according to the company, was unexpected and happened when the company urges its clients to use Ledger Live instead of the Chrome extension.
Ledger Will Cover 100% Of The Clients’ Financial Losses
The company was emphatic that the issue was their fault and any losses would be paid by Ledger. The cause of the issue, Ledger Live, appeared last month as an alternative to the old Chrome wallet management tools of the company and it is used to complement Ledger hardware products like Ledger Blue and the Nano S wallet.
At the moment, the most popular product of the company is Ledger Nano S, which is a USB device that offers cold storage and is believed to be more secure than keeping your information online. The company has recently announced two products: Hodl and Recovery Check 2. Hodl will be used to enter and check addresses when receiving funds and the other one for checking recovery phrases.